All Forum Posts by: Mark Hoggard

This may be a dumb question, but i have triplex that i recently purchased with a close friend of mine. I am wondering how i go about making sure that if something happens to me, my rights will go to my wife and not my investment partner? thank you for the help!

Matt T, That is exactly what i ended up doing! i now have my first Triplex in my home town! thank you all for the help!

Thank you both for the advice! i will keep an eye out for the chinese drywall. my friend does not live in the area, but we figure we could get a property manager down there and get enough to cover more than the mortgage. If we cant, it wouldnt be too much of a loss, 50k loan between the two of us. we could hold it a while.

Hello,
I am a first time homebuyer/ investor and i am currently trying to decide my
best rout to take to start a good real estate investment career.
I was hoping i could find some advice on this forum. I currently stationed in the Virginia Beach
area of Virginia(my wife and i currently reside with her mother to save up money) but
I am in the military and have traveled around alot. I recently
stopped in Florida, where I realized how low the prices were in many areas
(Cape coral for instance, where I have found many almost new houses in good neiborhoods for around 50000 dollars.)
This sounds like a great buy and hold investment opportunity so
I have been talking with a friend of mine about investing in a house down here, and splitting the mortgage.(we have about 20k between us)
but i am worried that if we do, I will not be able to recieve good financing on a multi-unit in Virginia Beach.
Could anyone tell me if:
1. they think it is a good idea to invest with a partner in an area where i will not be staying
2. I will still be able to recieve another(larger) mortgage for a home to live in.(multi-unit)

i have a pretty good credit score(above 700) and have an income of about 2500 a month.
Any help and inputs would be much appreciated, Thank you very much.